The Origin of Metallic Currency and Weight StandardsRidgeway, William
History
The Origin of Metallic Currency and Weight Standards
Ridgeway, William
Money -- Origin; Weights and measures -- History
silver currency must undergo certain modifications in order that a
definite round number of silver units may be equal to the gold unit, or
on the other hand the gold unit must undergo modification. But as we have
shown that the gold unit remained unaltered throughout all Hellas, Asia
and Egypt down to the time of the Ptolemies, it follows that whatever
changes were necessary must have taken place in the _silver_ standards.
Of this we have proof in the case of Rhodes itself. Down to 408 B.C.
the three ancient cities of Ialysus, Camirus and Lindus issued each a
separate series of coins, Camirus on the Aeginetic standard, the other
two on the Phoenician. In 408 B.C. all these united in founding the new
city of Rhodes, and henceforward there is a single coinage. At first
the Attic standard seems to have been employed for silver, as rare
tetradrachms of 260 grs. are found, but it must have very soon given
place to the so-called Rhodian, the tetradrachm of which ranges from 240
to 230 grs. About the same time (400 B.C.) the Rhodians began to issue
gold staters of the so-called Euboic standard, and for a century this
double issue of gold and silver continued unbroken. It is plain, from the
case of this famous island, that it is only the silver standards which
changed. There can be no doubt that the unit by which gold in bullion
was reckoned before that metal was coined was the so-called Euboic
or ox-unit, but during the archaic period we find both the so-called
Phoenician (220 grs.) and Aeginetic (drachms of 92 grs.) being employed
for silver in the island, whilst after 408 B.C. gold is issued on the
ox-unit, but silver, although at first on this standard, immediately
changes to the Rhodian of 240 grs. Evidently then the fixed element is
the gold, the fluctuating the silver. The coinage of Rhodes likewise
exemplifies the doctrine already indicated, that the employment of
religious and mythological symbols seems to mark not the earlier but
rather the later stages of Greek coining. Thus Camirus employed the
fig-leaf, Ialysus half a winged boar, and Lindus the lions head with
open jaws, but after 408 Helios the Sun-god, from whom all Rhodians
alike claimed descent, and to whom the island was sacred[414], becomes
the regular type, with the _type parlant_ of the Rose (_Rhodon_) on the
reverse.
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